As a result of “pent-up demand,” small businesses in Denver are seeing a huge boost in foot traffic.
Coloradans are itching to get out of the house, and it’s not just to see the state’s stunning scenery.
According to data collected by the Cherry Creek North Business Improvement Sector, foot traffic in the posh shopping and eating district in Denver’s Uptown neighborhood climbed by more than thrice in May compared to the same month last year. The number of visitors was only a few hundred short of the 652,544 who strolled through the area in May of this year, according to the data.
People are increasingly convening with friends, dining out, and resuming celebrations that had been postponed owing to the pandemic. The rise in activity outside the home is translating into a boom for small companies, which were hit hard when they were forced to close their doors and limit the number of customers who could come in.
And, in general, Americans are in a shopping mood. The National Retail Federation boosted its annual forecast for 2021 this week, citing a faster-than-expected growth in the economy. According to the association, retail sales are expected to rise between 10.5 and 13.5 percent this year, totaling more than $4.44 trillion.
Terry Garbarini has a clothing store in Cherry Creek North called Garbarini. It’s been over 40 years since she first opened her doors. According to the spokeswoman, traffic began to pick up in early March after a very difficult year, as the rate of immunizations increased.
“It’s simply becoming busier and busier all the time… We don’t know how long this will last, but due to people staying at home for a year, there is clearly some pent-up demand “Garbarini elaborated.
Garbarini acknowledges that keeping shelves stocked is difficult. She placed a weekly order for new inventory. Items are selling off quickly, and her inventory was already low because, according to her, orders for spring trends are typically placed in September. COVID-19 cases were on the rise when I was younger, and the timing of vaccines was still up in the air. Garbarini just bought the minimal necessities and avoided buying clothing for special occasions.
She said, “We had no concept what the corporate world would be like.” We might have been able to get a lot more for our money, but who knows?”
Summery items like casual dresses and shorts, she believes, are among the best-selling items this season.
Retailers in Denver County appear to be reviving their businesses. According to data from the Downtown Denver Partnership, retail establishments have outperformed transit hubs and workplaces in terms of visitor traffic recovery in recent months.
Foot traffic for retailers in the urban core of downtown Denver – which is largely dependent on conventions, large events, and office workers – will likely increase in late August or September when businesses bring more employees back to the office, according to Tami Door, president and CEO of the Downtown Denver Partnership.
“They only started bringing folks back to work in late May; they’re in the middle of a transition period.” “The explanation was given beside the door.